Riyadh — Mubasher: Al Moammar Information Systems Company has received a letter of intent to significantly expand the scope of its AI data center project with HUMAIN, which is backed by the Saudi Public Investment Fund (PIF).

The amendment increases the project’s total capacity from 50MW to 250MW through the design and construction of additional facilities totaling 200MW, according to a bourse filing.

Following this expansion, the total value of the contract is projected to exceed 689% of the company’s total revenues for the year 2025.

This follows an earlier announcement on 5 March 2026 regarding the initial contract which was valued at more than 155% of the company’s total revenues for 2024.

The project will be executed in multiple phases, while MIS confirmed it will commence engineering, procurement, and construction (EPC) works immediately while both parties finalize the formal contract, which is expected to be signed within two weeks.

The company further noted that work on the initial phase of the project remains unaffected by this scope increase and continues according to the previously established timeline.

It is worth noting that MIS recently unveiled details of an agreement with the PIF-backed HUMAIN.